Resignation and Appointment of Directors at OLP Services Pakistan

Karachi: Mr. Shaheen Amin resigns as Director and Chairman of OLP Services Pakistan, effective August 6, 2024. Mr. Naveed Kamran Baloch steps in as his replacement, pending regulatory approval.

In a recent development at OLP Services Pakistan (Private) Limited, the management company of OLP Modaraba, Mr. Shaheen Amin has resigned from his dual roles as Director and Chairman, effective August 06, 2024. This change comes in compliance with Section 96 of the Securities Act 2015 and Clause 5.6.1(a)(xii) of PSX Regulations.

Mr. Naveed Kamran Baloch has been appointed to fill the vacant directorial position at OLP Services Pakistan, assuming the responsibilities left by Mr. Amin. His appointment remains contingent upon approval from the Registrar Modaraba. The tenure for which Mr. Baloch has been appointed aligns with the remaining period initially designated for Mr. Amin.

According to information available from the Pakistan Stock Exchange (PSX), the corporate reshuffling has been formally communicated to the members of the Exchange, ensuring transparency and adherence to regulatory requirements. This leadership transition is poised to usher in a new phase for OLP Services as it continues to navigate the complexities of the financial services industry.

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